The great state of Texas is 268,597 square miles—making it the second-largest state in the nation. Industries and jobs have both seen strong growth in the Lone Star State in recent years. From oil and gas to chemical manufacturing and from computer systems design to scientific and technical consulting services—many sectors have been booming in Texas. The size of the state allows for all different kinds of industries to thrive. The availability of different kinds of regions, from rural to urban to suburban, make Texas an excellent choice for relocating your corporation and setting up for success. Read on to learn more about how to move a corporation to Texas.
- Get the lay of the land. Because of its rather large size, it’s a good idea to get familiar with the different regions of Texas. The Texas Economic Development Connection offers a snapshot of specific regions of the state. From the Alamo to the Capital region and from the Upper Rio Grande to the Gulf Coast, you can read a general overview of each region and get specific info on each region’s population, special features and landmarks, key industries, benefits, and transportation. Learn more about the Metroplex here, and click through to discover more about all the different regions of Texas.
- Find your place. Once you’ve settled on a region of Texas, finding the right workspace for your corporation will be key. Consider your company’s size, number of employees, and conference room and equipment needs as you decide on an office space. Texas has a variety of workspaces, from bustling downtown high rises to large warehouse spaces to some great flex spaces in office park settings.
- Plan ahead. Texas has such a business-friendly climate; the state will surely welcome you and your corporation. However, know that the process of making this move to Texas could take several months and requires a lot of attention to detail and planning ahead.
- Dive into the talent pool. Texas has become well known for its strong workforce. A growing population and a well-educated pipeline of graduates from the state’s many higher education institutions combine to help sustain this great talent pool.
- Look into incentives. Have you heard of the Skills Development Fund, the People Fund, the Texas State Small Business Credit Initiative, or the Governor’s University Research Initiative? There are so many economic incentives for corporations that are moving to Texas. Working with the Texas Economic Development Connection is a surefire way to get set up with some of the most effective, best-fit business incentives for your corporation.
- Draft a team of trusted advisors. Consulting with an attorney can be helpful as you move a corporation from out-of-state to Texas. An attorney can help ensure that, as a business owner, you’re aware of compliance issues and local laws. Working with an accountant to get situated with taxes is also a wise move.
- Make it official. Whether you bring your corporation to Texas through the process of domestication or foreign registration, you’ll also need to file paperwork with the Texas Secretary of State. In addition, you’ll want to update things such as your business license and permits and your tax records.
- Let everybody know. Updating your website, notifying you through social media, creating press releases, and mailing moving announcements can help you to publicize your new location. Of course, letting your employees know about relocation is essential as well.
- Bank on it. Will your corporate move have a financial impact on your company? Be sure to budget for the cost of moving. Consider whether you’ll deal with switching banks or moving to a local Texas financial institution.
- Reach out for resources. Just as when you move into a new neighborhood, you want to connect with neighbors, when you move a corporation to Texas, you want to make connections in your new business environment. The Texas Economic Development Connection can help business owners link up with experienced economic developers representing cities throughout Texas. If you need help with finding the right location for your new business, they can facilitate getting you set up in just the right place.
Making a corporate move to Texas means great news for your company. Even better news: there are many wonderful resources available to you to help your corporation move and settle in smoothly. The Texas Economic Development Connection consists of a team of certified economic developers; these experts work with government agencies, chambers of commerce, and other economic development organizations to help you get set up in Texas. Whether you need advice on regions or resources, you can connect with the Texas ED Connection to get some of the best business advice in the state. Call 214-775-0617 or check out the Relocation Planning Tool online to get started.